Digital asset manager Grayscale has launched its first stock ETF.
With $38.2 billion in assets under its management, Grayscale has launched its first ETF. The ETF will invest in companies in the digital assets space by tracking the performance of the Bloomberg Grayscale Future of Finance (BGFOF) Index. The ETF, which will be traded under the code GFOF, includes 22 financial services providers such as Silvergate Capital (SI), PayPal (PYPL), Coinbase Global (COIN), Block Inc (SQ), Robinhood Markets Inc (HOOD), Argo Blockchain PLC (ARB). . The company also made the announcement on its official Twitter account.
The company, which started with digital assets, expanded its product range to traditional assets with this step. The company said in a press release that the product will allow investors access to new pools of capital and reduce the need for costly intermediaries. Grayscale Investments CEO Michael Sonnenshein used the following statements in a statement:
“As Grayscale positions itself as a global leader in digital currency investing, the future of finance calls for far greater authority… This product launches the next phase of our evolution as an asset manager that helps investors build portfolios that will stand the test of time, while leveraging our historical strengths. ”
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